CD rates for May 24, 2012

I'm Greg McBride, senior financial analyst with Bankrate.com, and here is your weekly look at yields on certificates of deposit.

Yields on CDs continue to grope for the bottom. There hasn't been much movement thus far in 2012, but what movement there has been is lower. This week was a manifestation of that. Yields ticked lower on a few maturities while holding steady on most others. But one thing is for sure - you're not seeing any improvement in CD yields, and you're not likely to in the foreseeable future.

The average 6-month CD yield ticked lower to 0.21 percent, while the average 4-year and 5-year CDs now sport annual returns of just 0.88 percent and 1.12 percent, respectively.

Larger jumbo CDs - those requiring initial deposits of 6 figures - are not immune. The average 6-month, 4-year, and 5-year jumbo CDs were also down this week. And their average yields are hardly distinguishable from CDs requiring much more modest minimum deposits. The average 5-year jumbo CD yields 1.14 percent, compared to the 1.12 percent available to all investors.

To find the best yielding cash investments - from online savings accounts and money market accounts to CDs, check out the free search engine at Bankrate.com.

Greg McBride, CFA, is the senior financial analyst for Bankrate.com, providing analysis and advice on personal finance. He has the unique ability to provide both in-depth commentary and practical advice to consumers.

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